Graphite One and Lucid sign supply agreement to promote localization of graphite anodes for lithium batteries in the United States

Graphite One, a negative electrode material company, and Lucid, an electric car company, have signed a non-binding supply agreement. Under the agreement, once Graphite One begins producing synthetic graphite, Lucid will purchase 5,000 tons per year. The initial term is five years, but it can be terminated early. The price of the sale will be determined based on an agreed price formula linked to future market pricing and will meet the basic pricing agreed by both parties. Currently, all lithium battery graphite negative electrodes in the United States are imported, and Graphite One plans to build a lithium battery negative electrode factory based on graphite mines in the United States.